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Spire Wealth Management Buys 4,078 Shares of Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Spire Wealth Management grew its position in Deere & Company (NYSE:DE - Free Report) by 140.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,990 shares of the industrial products company's stock after acquiring an additional 4,078 shares during the quarter. Spire Wealth Management's holdings in Deere & Company were worth $3,281,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $43,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $48,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 1.0%

Shares of NYSE DE traded up $4.93 during midday trading on Friday, hitting $513.46. The stock had a trading volume of 1,835,337 shares, compared to its average volume of 1,358,147. The company's 50-day simple moving average is $500.54 and its 200 day simple moving average is $473.14. The firm has a market cap of $139.06 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the company earned $8.53 EPS. The firm's revenue was down 17.9% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Oppenheimer increased their target price on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird raised their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $515.19.

View Our Latest Research Report on DE

Deere & Company Profile

(Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

Further Reading

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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